USD/CAD neutral short-term – Scotiabank

Analysts at Scotiabank remain neutral on the pair for the time being.

Key Quotes

“USDCAD is quiet consolidating just below the lower bound of the multi-week range that had prevailed though most of January, ahead of last week’s bearish break”.

“Technical signals are relatively neutral however, and the most recent lows in spot have not been confirmed by momentum. We look to near-term support between 1.2300 and 1.2280 and resistance above 1.2380”.